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Shenzhen Airport reports 29% increase in first half net profit

Shenzhen Airport has reported a 29.6% increase in net profit for the six months ended 30-Jun-2010 to USD53.7 million, although its share price eased 0.2% on Friday.

Shenzhen Airport’s financial highlights for the period, according to Chinese Accounting Standards, were as follows:

  • Revenue: USD135.4 million, +16.3% year-on-year;
    • Aeronautical: USD88.5 million, +15.7%;
  • Operating costs: USD63.0 million, +14.0%;
  • Operating profit: USD67.7 million, +29.6%;
  • Net profit: USD53.7 million, +29.0%;
  • Total assets: USD898.8 million, +6.0% when compared with period ended 31-Dec-2009.

The airport will open a new runway and terminal in 2011 or 2012. See related report: China’s second tier airports: It’s where the action is!

Elsewhere, Guangzhou Airport fell 0.6% and Beijing Airport was flat on Friday.

Selected airports daily share price movements (% change): 30-Jul-2010